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Rackspace Hosting (NYSE:RAX)‘s stock had its “neutral” rating restated by analysts at UBS AG in a research report issued to clients and investors on Tuesday, Analyst Ratings.Net reports. They currently have a $34.00 price target on the stock, down from their previous price target of $38.00. UBS AG’s price target suggests a potential upside of 23.50% from the stock’s previous close.

Rackspace Hosting (NYSE:RAX) traded up 8.57% on Tuesday, hitting $29.89. The stock had a trading volume of 10,885,754 shares. Rackspace Hosting has a one year low of $26.18 and a one year high of $54.20. The stock has a 50-day moving average of $30. and a 200-day moving average of $36.37. The company has a market cap of $4.239 billion and a price-to-earnings ratio of 45.13. Rackspace Hosting also was the target of some unusual options trading on Monday. Stock investors acquired 20,455 call options on the stock. This represents an increase of 502% compared to the average volume of 3,396 call options.

Rackspace Hosting (NYSE:RAX) last released its earnings data on Monday, May 12th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.06. The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $419.63 million. During the same quarter last year, the company posted $0.19 earnings per share. Rackspace Hosting’s revenue was up 16.2% compared to the same quarter last year. Analysts expect that Rackspace Hosting will post $0.62 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Oppenheimer cut their EPS estimates on shares of Rackspace Hosting in a research note on Tuesday. They now have an “outperform” rating and a $40.00 price target on the stock. They previously had a $49.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Rackspace Hosting from $39.00 to $35.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Piper Jaffray cut their price target on shares of Rackspace Hosting from $50.00 to $45.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Rackspace Hosting currently has a consensus rating of “Hold” and a consensus target price of $40.96.

Rackspace Hosting, Inc, is the open cloud company. The Company offers a diverse portfolio of cloud computing services, including public, dedicated and private cloud, and hybrid hosting.

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